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Helsinki Stock Exchange sees decline as Metsä Board makes large investments and Spinnova negotiations fall through

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Apr 24, 2024

At the end of trading, the general index of the Helsinki Stock Exchange closed down 0.5 percent at 9925.34 points. The most traded stock of the day was the bank Nordea, whose share price ended down 2.5 percent at 10.98 euros. Most of the most traded shares were in a downward direction. However, at the top of the rise was a multi-sector company Dovre Group, whose share rose by 7.4 percent to 0.33 euros. On the contrary, an investment company Reka Industrial saw its share price fall by 29.3 percent to 6.38 euros. Today, Reka paid out a dividend of 2.00 euros, which is more than 22 percent of the company’s value.

The food company, as well as a packaging line company, a discount company, and a shipping company, also announced dividends. Additionally, Metsä Group’s Forest Board revealed an investment of approximately EUR 60 million to renew Simpelee’s folding carton machine. The investment is expected to be completed by the second half of 2025. Metsä Board’s B share closed down 0.6 percent at 7.16 euros.

Fiber company Spinnova concluded its change negotiations, resulting in the dismissal of eight positions to support the company’s updated strategy. Avaro Real Estate Investment acquired a shopping center property in Jyväskylä, with the purchase price being seven million euros. Steel company Outokumpu restructured its German operations, affecting 200 employees and generating annual savings of 15 million euros.

A large block trade with Sitowise shares took place on the Helsinki Stock Exchange, amounting to approximately EUR 1.37 million. Nine companies published their interim reports, with companies like Kone and Fodelia showing improvements in operating profit and turnover. Siili Solutions saw a decrease in turnover and adjusted ebita result. Aiforia signed a new contract with a US veterinary company, and Capman Buyoutin managed funds agreed on the sale of Havator Group.

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